Hi there, I'm a UK citizen living in Hungary and my wife is a Vietnamese citizen. We want to set up a company which will import certain products from Vietnam to be sold on Amazon UK and other online sales channels. What I am wondering is how this might best be done. Can I set up a LTD company in the UK from Hungary with two directors (my wife and I) and then just pay any taxes for the company to HMRC? We are thinking about seeing if the company works for a while and possibly moving to the UK if it becomes successful to grow the business further.
- Do we need employment contracts to take a salary and how would this work if we lived abroad?
- Can we open the business with no employment or salary arrangements and pay a salary later? i.e does a salary have to be paid monthly?
The last question is would it just be easier all round if we lived in the UK from a tax point of view?
I don't really think taking the salary abroad would be tax efficient or easy to set up in Hungary but it would in the UK.
If anyone is going to advise us that we seek professional advice would they also be able to recommend an accountancy firm that's not too pricey for this, please?